In early August 2024, a helicopter landed on the newly constructed multi-million Naira helipad at the Central Bank of Nigeria (CBN) headquarters in Abuja. This test run, which involved CBN Governor Yemi Cardoso and his deputies, was conducted to prepare for future use of the helipad, either for official purposes or emergency evacuation.The new helipad was built specifically for the CBN governor and his senior management team. The inaugural landing occurred during the recent #EndBadGovernance protests, which took place from August 1 to 10. This development has attracted attention amid ongoing discussions about the cost of living crisis in Nigeria and the government’s efforts to reduce spending.Recent reports highlight significant expenditures by the CBN, including the acquisition of six armored Lexus LX 600 vehicles at a total cost exceeding N10 billion. Each of the four deputy governors received one vehicle, while the governor kept two. Additionally, the CBN purchased 20 Toyota Camry cars for management and board members, costing approximately N84 million. The governor and deputies have also reportedly increased their annual housing allowances to about N1 billion, despite residing in official residences, and upgraded their international travel privileges to first class with a nightly allowance of $7,000 for foreign trips.These high-profile purchases and expenditures come at a time when many Nigerians are struggling with economic hardship, raising concerns about the CBN’s priorities. The luxury items and amenities appear to contradict the government’s stated aim of reducing the cost of governance.Attempts to reach CBN spokesperson Hakama Sidi-Ali for comment were unsuccessful as of the report’s publication.
